“The signing of today’s agreement is the first step in creating a globally respected framework that protects the reputation of food merchants and gives consumers further confidence to purchase food online.

“We see the Australian and New Zealand markets setting the tone for the rest of the world when it comes to integrity, safety and quality of food supply chains.”

Blockchain technology, often referred to as the “internet of trust”, was originally developed to publicly and irrefutably track the transfer of Bitcoin and other cryptocurrencies.

It has been designed to authenticate, verify, permanently record and provide ongoing reporting relating to the transfer of ownership and providence of goods.

PwC Australia CEO Luke Sayers said trust in the food supply chain was important at a time when public confidence has been rocked by a number of scandals.

"Global consumers expect instant gratification, and when it comes to food, that means any time, any place,” he said.